If the Amendments are approved, the Debentureholders will receive value in terms of optionality, leverage, and cash, including the partial redemption right
, continued bi-annual interest payments at an attractive rate, and a consent fee for those Debentureholders that vote in favor of the Amendments.
NYSE MKT: BTX), has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of up to $15,000,000 of units with each unit consisting of one share of Series B common stock and one redemption right
NYSE MKT: BTX), has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of up to S15,000,000 of units with each unit consisting of one share of Series B common stock and one redemption right
JDSU (NASDAQ: JDSU) (TSX: JDU) reported that according to the terms of the Indenture governing its 1% senior convertible notes due 2026, certain holders of the notes have surrendered their notes for purchase by JDSU, exercising their redemption right
under the Indenture.
According to the court, the redemption right
does not create "an existing, unconditional, and legally enforceable obligation for the payment.
iPath ETNs generally have a daily redemption right
and investors can trade them on an exchange at market prices.
If the bank does not exercise its redemption right
, the coupon rate for the remaining five years of the term will be three percent higher than the original, it said.
Separately, the company said it is exercising its optional redemption right
to call in all the outstanding high yield bonds on March 17, saying it will significantly reduce its future finance charges.
Now, the city of JyvAaAaAeAnskylAaAaAeAn has wa its redemption right
and the closing of the transaction took place on 30 November 2017.
It first argued that it was the parties' intent that the payments be treated as interest and that the redemption right
itself created a debt.
The bond issue structure allows the issuer to grant investors a put option and/or retain a redemption right